February Sales

getting worse every month; people are paralyzed when it comes to big expenditures these days...

 

Hyundai is doing great!

Relatively speaking
I never paid much attention to their cars until I saw the new Genesis in pearl white, absolutely gorgeous car

 

Lamborghini only sold 34 cars, Ferrari 59 cars, the entire month across the country?

 

You can do that with a Cadillac too, now Jim...now that Obama has the package in place.

Goes for your mortgage as well.

 

I'd drink to that. Cheers!!!

 

How's this for strange? I just bought that 1965 Corvair Corsa Turbo.

Figured I might be needing something soon with really really simple ignition that I can work on myself.
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Can anyone PM me the file to the January 2009 chart?

 

A recent commercial from Hyundai said that they not only would allow you to turn the car back in within the first year, but also pay three payments for you as well. I assume you have three months without payments before turning the car back in after losing employment, of course you also might find something else in the mean time.

This may seem like a risky strategy, but if you think about it also a brilliant way to grab a big chunk of market share potentially. Their cars are already economically priced, and even if the unemployment rate went up anothr 5%, that is only 5% of your customers that you would have to eat the car for. This is probably cheaper than sitting on the unused cars that otherwise wouldn't be sold, or the cost of idling plants.

 

Jim,
Is www.motorintelligence.com your website?

 

Even might Mini dropped at last. Wow.

 

I think the Hyundai demographic encompasses a much bigger slice of the population likely to be laid off, therefore the risk to Hyundai is greater than 5% of their customers - probably closer to 20% perhaps.

 

Paralyzed by fear; bad reasoning. The world will still be turning once this cycle flushes, and during...

 

Nice car!

 

That undoubtedly holds true, but at least they get the cars out there instead of them sitting in a lot; as long as out there someone else pays for it instead of it eroding what is in the dealers' pocket. I suppose that Hyundai insured the risk.

In years to come the market may be flooded with used Hyundais at rock bottom prices, a big negative, but for the short term I think it is a rather brilliant move.

They do the same thing here in South Africa, and guarantee that if you get laid off within the first year of ownership they buy back for 80%.

 

Actually it looks like 93 cars for Ferrari, the 59 is Maserati. Interesting numbers. If you look at percentage declines YoY, Ferrari is -31.1%, while Rolls-Royce is -44.8%, Lamborghini is -58.5%, Maybach is -66.7% (a whopping 5 cars!), Bentley is -70.1% and Maserati is -72.0%. Compared to the overall average decline of new passenger car sales at -38.4%, Ferrari is holding up relatively well.

I wonder what the used car numbers look like. I added one car to the Ferrari used car purchase category last month with my F355. Two if you count selling my 328GTS!

 

This year we will find out how many cars Ferrari can sell when flipping is eliminated. If it is 800-1000/year, that's not bad. Consider what happened in the last exotic car bust of 1990. By 1993, Ferrari sold about 100 348's and a few TR's, a huge drop from 1989.

Dave

 

funny we're talking about Hyundai's on Fchat but here goes...Whats the Put price of the car? I dont know the details of the program but I probably will guess that it isnt what the customer paid. Again I'm guessing here, but its some % of the cost and I will go out on a limb and say that its probably lower than the "true mkt value." In other words, the unemployed customers may be better off selling rather than returning to Hyundai. So if this is true, it may not be so bad for Hyundai. In my mind it's all marketing.